SGIIU - Seaport Global Acquisition II Corp Announces Termination of Merger Agreement with American Battery Materials Inc. and Redemption of Public Shares | Benzinga
NEW YORK, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Seaport Global Acquisition II Corp. (NASDAQ:SGII) (the "Company"), a special purpose acquisition company, today announced that it has terminated the previously announced agreement and plan of merger (the "merger agreement") with American Battery Materials, Inc. The Company also announced today that, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation, as amended (the "Amended Charter"), the Company intends to dissolve and liquidate in accordance with the provisions of the Amended Charter.
As a result, the Company will redeem all of the remaining outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the "Public Shares"), at a per-share redemption price of approximately $10.78 as of November 16, 2023.
In order to provide for the disbursement of ...